Question 1

For firms to be entrepreneurial, they must stress individualism in their employees above all other characteristics.

Accepted Answer

A) True 
 B)False

Question 2

Blixin Concrete Products, an established firm, is seeking a technologically advanced partner for a strategic alliance.If the potential partner is a new entrepreneurial venture, the main benefit that Blixin Concrete can offer is probably:

Accepted Answer

A)  investment capital. 
B)  management expertise. 
C)  research and development competencies. 
D)  social networks. 
A)  investment capital. 
B)  management expertise. 
C)  research and development competencies. 
D)  social networks.

Question 3

FutureTech used an induced approach to innovation to create open innovation because it wants to be the firm whose products become the source of industry standards.

Accepted Answer

A) True 
 B)False

Question 4

A successful __________ innovation will be less risky but less profitable than a successful __________ innovation.

Accepted Answer

A)  incremental; novel 
B)  novel; incremental 
C)  alliance-generated; acquisition-generated 
D)  acquisition-generated; alliance-generated 
A)  incremental; novel 
B)  novel; incremental 
C)  alliance-generated; acquisition-generated 
D)  acquisition-generated; alliance-generated

Question 5

Discuss the potential benefits and disadvantages of innovation through cooperative strategies.

Accepted Answer

A firm may not have the knowledge and ca

Question 6

Rosalie has become totally preoccupied with her idea for creating a business leasing horses to riders on the same principle as time-shares on condominiums.Rosalie is researching the legal, financial, and insurance aspects of her idea and is preparing a prospectus to take to banks to ask for a business loan.Rosalie's significant other is complaining that she "sleeps, eats, and drinks" this concept.Rosalie has the entrepreneurial characteristic of passion.

Accepted Answer

A) True 
 B)False

Question 7

Corporate entrepreneurship describes the opportunity seeking and exploitation of innovations in new start-up enterprises.

Accepted Answer

A) True 
 B)False

Question 8

The level of entrepreneurial activity in a nation is __________ the nation's level of economic productivity.

Accepted Answer

A)  negatively related to 
B)  independent of 
C)  positively related to 
D)  weakly related to 
A)  negatively related to 
B)  independent of 
C)  positively related to 
D)  weakly related to

Question 9

Acquisitions are a low-risk approach to producing and managing innovation.

Accepted Answer

A) True 
 B)False

Question 10

The competition for resources among those representing different organizational functions within a firm often leads to:

Accepted Answer

A)  erosion of social capital. 
B)  heightened communication. 
C)  organizational politics. 
D)  empowerment of organizational members. 
A)  erosion of social capital. 
B)  heightened communication. 
C)  organizational politics. 
D)  empowerment of organizational members.

Question 11

Evidence demonstrates that large established firms with well-funded R&D operations are more effective at innovation than are smaller or younger firms.

Accepted Answer

A) True 
 B)False

Question 12

Which of the following is one of the barriers to effectiveness when using cross-functional teams to integrate organizational functions?

Accepted Answer

A)  Dissension within the top management team 
B)  Informal organizational processes within the firm 
C)  The firm's strategic orientation 
D)  Organizational politics 
A)  Dissension within the top management team 
B)  Informal organizational processes within the firm 
C)  The firm's strategic orientation 
D)  Organizational politics

Question 13

Entrepreneurial opportunities exist because of competitive imperfections in markets and among the factors of production used to produce them or because they were independently developed by entrepreneurs.

Accepted Answer

A) True 
 B)False

Question 14

Innovations that involve significant technological breakthroughs and create new knowledge:

Accepted Answer

A)  build incrementally on the firm's existing technologies and knowledge. 
B)  are the most common type of innovation. 
C)  involve substantial uncertainty and risk. 
D)  typically have clear market opportunities. 
A)  build incrementally on the firm's existing technologies and knowledge. 
B)  are the most common type of innovation. 
C)  involve substantial uncertainty and risk. 
D)  typically have clear market opportunities.

Question 15

Innovation creates a(n):

Accepted Answer

A)  opportunity for a new product or process. 
B)  new product or process. 
C)  commercial product. 
D)  idea for potential exploitation. 
A)  opportunity for a new product or process. 
B)  new product or process. 
C)  commercial product. 
D)  idea for potential exploitation.

Question 16

Entrepreneurial opportunities are conditions in which new goods or services can satisfy a need in the market.

Accepted Answer

A) True 
 B)False

Question 17

Cross-functional work teams are best supported by vertical organizational structures.

Accepted Answer

A) True 
 B)False

Question 18

Charles is a customer service representative for a home improvement store.He has creative ideas about how to increase customer satisfaction.Charles's talents will MOST likely be used in a firm that:

Accepted Answer

A)  uses the induced strategic behavior form of internal corporate venturing. 
B)  uses the autonomous strategic behavior form of internal corporate venturing. 
C)  makes significant investment in research and development. 
D)  focuses on an acquisition strategy for gaining innovative ideas. 
A)  uses the induced strategic behavior form of internal corporate venturing. 
B)  uses the autonomous strategic behavior form of internal corporate venturing. 
C)  makes significant investment in research and development. 
D)  focuses on an acquisition strategy for gaining innovative ideas.

Question 19

Acquisitions are a means of extending the company's product line and increasing revenues.The capital market values growth.Therefore, some firms make acquisitions to improve their standing in the capital markets.

Accepted Answer

A) True 
 B)False

Question 20

Discuss the benefits and risks of acquiring another firm to gain access to innovations.

Accepted Answer

Through acquisition, an organization can

For firms to be entrepreneurial, they must stress individualism in their employees above all other characteristics.

Blixin Concrete Products, an established firm, is seeking a technologically advanced partner for a strategic alliance.If the potential partner is a new entrepreneurial venture, the main benefit that Blixin Concrete can offer is probably:

FutureTech used an induced approach to innovation to create open innovation because it wants to be the firm whose products become the source of industry standards.

A successful innovation will be less risky but less profitable than a successful innovation.

Discuss the potential benefits and disadvantages of innovation through cooperative strategies.

Corporate entrepreneurship describes the opportunity seeking and exploitation of innovations in new start-up enterprises.

The level of entrepreneurial activity in a nation is __________ the nation's level of economic productivity.

Acquisitions are a low-risk approach to producing and managing innovation.

The competition for resources among those representing different organizational functions within a firm often leads to:

Evidence demonstrates that large established firms with well-funded R&D operations are more effective at innovation than are smaller or younger firms.

Which of the following is one of the barriers to effectiveness when using cross-functional teams to integrate organizational functions?

Entrepreneurial opportunities exist because of competitive imperfections in markets and among the factors of production used to produce them or because they were independently developed by entrepreneurs.

Innovations that involve significant technological breakthroughs and create new knowledge:

Innovation creates a(n):

Entrepreneurial opportunities are conditions in which new goods or services can satisfy a need in the market.

Cross-functional work teams are best supported by vertical organizational structures.

Charles is a customer service representative for a home improvement store.He has creative ideas about how to increase customer satisfaction.Charles's talents will MOST likely be used in a firm that:

Acquisitions are a means of extending the company's product line and increasing revenues.The capital market values growth.Therefore, some firms make acquisitions to improve their standing in the capital markets.

Discuss the benefits and risks of acquiring another firm to gain access to innovations.

Strategic Management and Strategic Competitiveness

The External Environment: Opportunities, Threats, Industry Competition, and Competitor Analysis

The Internal Organization: Resources, Capabilities, Core Competencies, and Competitive Advantages

Business-Level Strategy

Competitive Rivalry and Competitive Dynamics

Corporate-Level Strategy

Merger and Acquisition Strategies

International Strategy

Cooperative Strategy

Corporate Governance

Organizational Structure and Controls

Strategic Leadership

Filters

Exam 13: Strategic Entrepreneurship

For firms to be entrepreneurial, they must stress individualism in their employees above all other characteristics.

Blixin Concrete Products, an established firm, is seeking a technologically advanced partner for a strategic alliance.If the potential partner is a new entrepreneurial venture, the main benefit that Blixin Concrete can offer is probably:

FutureTech used an induced approach to innovation to create open innovation because it wants to be the firm whose products become the source of industry standards.

A successful __________ innovation will be less risky but less profitable than a successful __________ innovation.

Discuss the potential benefits and disadvantages of innovation through cooperative strategies.

Corporate entrepreneurship describes the opportunity seeking and exploitation of innovations in new start-up enterprises.

The level of entrepreneurial activity in a nation is __________ the nation's level of economic productivity.

Acquisitions are a low-risk approach to producing and managing innovation.

The competition for resources among those representing different organizational functions within a firm often leads to:

Evidence demonstrates that large established firms with well-funded R&D operations are more effective at innovation than are smaller or younger firms.

Which of the following is one of the barriers to effectiveness when using cross-functional teams to integrate organizational functions?

Entrepreneurial opportunities exist because of competitive imperfections in markets and among the factors of production used to produce them or because they were independently developed by entrepreneurs.

Innovations that involve significant technological breakthroughs and create new knowledge:

Innovation creates a(n):

Entrepreneurial opportunities are conditions in which new goods or services can satisfy a need in the market.

Cross-functional work teams are best supported by vertical organizational structures.

Charles is a customer service representative for a home improvement store.He has creative ideas about how to increase customer satisfaction.Charles's talents will MOST likely be used in a firm that:

Acquisitions are a means of extending the company's product line and increasing revenues.The capital market values growth.Therefore, some firms make acquisitions to improve their standing in the capital markets.

Discuss the benefits and risks of acquiring another firm to gain access to innovations.

Strategic Management and Strategic Competitiveness

The External Environment: Opportunities, Threats, Industry Competition, and Competitor Analysis

The Internal Organization: Resources, Capabilities, Core Competencies, and Competitive Advantages

Business-Level Strategy

Competitive Rivalry and Competitive Dynamics

Corporate-Level Strategy

Merger and Acquisition Strategies

International Strategy

Cooperative Strategy

Corporate Governance

Organizational Structure and Controls

Strategic Leadership

Filters

A successful innovation will be less risky but less profitable than a successful innovation.